Belgian startup Calltic, on a mission to eradicate fraud from the telecom world, has announced closing its Series A funding round.
Calltic, founded in 2017, offers a radical new approach in telco fraud fighting, which vastly outperforms existing CDR based solutions. Its fast solution detects all on-net and off-net SIMBoxes with one single tool, giving teams time to focus on other tasks.
The round was fully subscribed with €1.5 million and was led by Qbic II Fund which has a strong track record in technology ventures. Akiles, a Brussels based investment company, completed the consortium that subscribed to the capital. Calltic’s previous investors, imec.istart and Luc Kindt, a technology investor, also participated in the round.
“There was a strong interest in the file because of Calltic’s solid technology and the track record of the management team”, says Mrs. Sofie Baeten, Managing Partner of the Qbic II Fund. “It is a pleasure to see the great value Calltic’s collaboration with one of our Fund’s university partners (UGent) brings to Calltic’s technological core and its products.”
The company has recently gained its first contracts for fraud detection with mobile operators in Africa. For Calltic, the successful round marks an important milestone in the company’s development. With the funds now raised, the company can execute its plan to roll out its first product in 2020. The company also filed its first patent and is preparing for new product introductions.
“We are grateful to both our new and our old investors for their confidence in us and what we have set out to accomplish”, says Guy Van der Meeren, CEO of Calltic. “We warmly welcome our new investors to join us on this journey to fight fraud in mobile telco operators”, he continues.
To this date Calltic has raised nearly €2 million for the development of its technology and business. The prospects for Calltic are very promising as its technology provides invaluable fraud control in a market which suffers an estimated fraud loss of €5 billion worldwide.
